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12 days agoFrom the article, it doesn’t sound like the market is saturated with oil at all. If the oil companies are afraid that more drilling will drive prices down, it sure seems like they’re colluding to restrict the amount of oil in the market so they have some cover for their price fixing. That said, the focus should really be on switching to renewables, but that won’t be happening anytime soon.
It’s not news to me, but it sure seems to be news to the article author, given the way it’s presented.